Veeva Systems (NYSE:VEEV) Price Target Increased to $235.00 by Analysts at Raymond James

Veeva Systems (NYSE:VEEV) had its target price upped by Raymond James from $230.00 to $235.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Guggenheim boosted their price target on shares of Veeva Systems from $211.00 to $233.00 and gave the stock a buy rating in a report on Thursday, July 18th. Stifel Nicolaus cut their price target on shares of Veeva Systems from $250.00 to $210.00 and set a buy rating for the company in a report on Friday, May 31st. BTIG Research began coverage on shares of Veeva Systems in a report on Tuesday, July 9th. They issued a buy rating and a $240.00 price target for the company. Bank of America boosted their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a neutral rating in a report on Thursday. Finally, Barclays cut their price target on shares of Veeva Systems from $245.00 to $220.00 and set an overweight rating for the company in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $230.13.

Veeva Systems Price Performance

VEEV opened at $217.00 on Thursday. The firm has a fifty day moving average price of $187.82 and a 200 day moving average price of $202.03. Veeva Systems has a 1 year low of $162.72 and a 1 year high of $236.90. The stock has a market cap of $35.08 billion, a P/E ratio of 64.01, a P/E/G ratio of 1.95 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The firm had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Equities analysts expect that Veeva Systems will post 4.19 EPS for the current year.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Timothy S. Cabral sold 15,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the sale, the chief financial officer now owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the sale, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Veeva Systems

Several hedge funds have recently made changes to their positions in the business. Facet Wealth Inc. lifted its position in shares of Veeva Systems by 3.2% during the fourth quarter. Facet Wealth Inc. now owns 1,542 shares of the technology company’s stock worth $323,000 after purchasing an additional 48 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Veeva Systems by 0.4% in the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after acquiring an additional 52 shares in the last quarter. Western Pacific Wealth Management LP raised its holdings in Veeva Systems by 23.3% in the first quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock valued at $71,000 after acquiring an additional 58 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Veeva Systems by 3.5% in the fourth quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock valued at $342,000 after acquiring an additional 60 shares in the last quarter. Finally, OV Management LLC raised its holdings in Veeva Systems by 1.0% in the second quarter. OV Management LLC now owns 6,659 shares of the technology company’s stock valued at $1,219,000 after acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.